Maine joins national lawsuit against ratings agency

AUGUSTA, Maine (NEWS CENTER) - Maine Attorney General Janet Mills says the state is joining a lawsuit that alleges the rating agency Standard & Poor's used deceptive practices that helped lead to the nation's recent financial crisis.

The lawsuit charges and Standard & Poor's (S&P) knew that it was unequipped to analyze the complex securities exchanges at the heart of the collapse. The suit says that S&P continued to give these exchanges AAA ratings - the safest rating possible.